In any organization there are different objectives and management has to achieve all objectives in an effective and efficient manner.
These objectives of management can be classified into three categories:
1. Organizational objectives
2. Social objectives
3. Personal objectives
Let’s discuss these objectives one by one.
Management is responsible for setting and achieving objectives for the organisation. The main objective of any organization should be to utilise human and material resources to the maximum possible advantage, i.e., to fulfill the economic objectives of a business.
As a part of society, every organisation whether it is business or non-business, has a social obligation to fulfill which is to consistently create economic value for various constituents of society. This includes:
Organization consists of different types of individual who joins it to satisfy their diverse needs. The individual may seek to satisfy needs such as:
Management has to reconcile personal goals with organisational objectives for harmony in the organisation.
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